Profitable Group, the Singapore based investment group became the first group to go on the record with a firm bid for Newcastle.
Steve Mcmahon - would essentially become Chairman
The former England midfielder Steve McMahon – now the commercial director for Profitable – said he expects a decision by the end of the week.
So we have to hope that’s a matter of days as we are already losing some of our targets to other teams, like Fraizer Campbell moving to local rivals Sunderland.
Alan Shearer would also be given the manager’s job as soon as possible, and Steve McMahon would let Alan essentially run the club with Steve taking a hands- off approach.
We assume Steve would take up a role similar to that of the Chairman, but Alan needs no help to run the playing side of the club.
Shearer would have no problem working with McMahon and is desperate to begin work before we lose too many of our summer targets, and there is not enough time to recover from what has so far been a disastrous pre-season.
So far, the Newcastle club has said there are at least two offers meeting the £100M asking price, so we have to hope that the Profitable Group is one of these.
If so then we could be off and running at last, with Alan Shearer working hard to make up for last time, since it’s now 7 weeks since we were relegated.
Steve said:
“We’ve had a bid, it’s under serious consideration,”
“It’s a strategic move and it’ll be great for the group and for Newcastle. The value (of buying the club) is awareness.”
“We can turn what is a disaster at the moment into a success. By the end of the week, we’ll know if we’re successful or not.”
We have to hope that some group buys Newcastle soon, otherwise this pre-season will turn out to be a complete disasater for the Tyneside club.
Here’s hoping. 
Comments welcome.
Written from Ipswich, England.
19 responses so far ↓
1 newcastle29 // Jul 11, 2009 at 10:55 AM
zzzzzzzzzzzzzzzzzzzz
2 Wallsend Will // Jul 11, 2009 at 11:01 AM
We wait for confirmation? We wait for confirmation?We wait for confirmation? I had hoped that Fraizer Campbell and all other Shearer targets would hang on a bit longer. This nightmare must end soon!!!!
3 Toon_Factor // Jul 11, 2009 at 11:06 AM
More made up crap!
4 Solaidback // Jul 11, 2009 at 11:16 AM
Same old, same old…. If the Profitable Group made an announcement before they placed a bid, unlike the other potential buyers, does that make them exempt from the NDA which the other buyers signed, so is that why they’re able to say they’ve made a bid or is it that they don’t care if the general public know they’ve bid for the TOON, which the other buyers do??
Personally I don’t think the PG put a big enoough bid in & that’s why they’re letting everyone know they bid, just to get a bit of notice & free publicity!!
If they do get to buy the TOON, then lets hope they stick to what they’re supposedly saying in the papers & not back track as soon as they get their feet under the table!!
5 ginkoh // Jul 11, 2009 at 11:16 AM
Until Exculsive news come out, nothing happening. Nightmare still go on. — –”
6 Chris G // Jul 11, 2009 at 11:24 AM
There’s another good article by George Caulkin in today’s Times – and note what he says about people like Steve McMahon and the Profitable Group:
‘…it is a useful, if not cast-iron, rule of thumb that those who speak the loudest can be discounted most readily. Non-disclosure agreements are in place, substantive bidders simply do not need to make themselves heard — as opposed to publicity-seekers — and only Harris is aware of the full list of individuals involved…’
http://www.timesonline.co.uk/tol/sport/football/football_league/article6684349.ece#cid=OTC-RSS&attr=796995
There’s also some pretty depressing reading in some of the other papers as well:
The Independent
http://www.independent.co.uk/sport/football/premier-league/no-manager-no-buyer-time-for-a-preseason-warmup-game-1741778.html
and The Sun
http://www.thesun.co.uk/sol/homepage/sport/football/2529480/Sheario.html?OTC-RSS&ATTR=Football
Not a good start to the weekend, is it?
7 davis_toons // Jul 11, 2009 at 11:29 AM
I have seen Steve Mcmahon on talks for “live football games” and from what he had spoken he understand his role and football well.
But he needs to listen to open option also.
8 ginkoh // Jul 11, 2009 at 11:45 AM
Sometime I think I should lay down everything about Newcastle because it’s so pain. Someone wake me up please TT
9 newcastle29 // Jul 11, 2009 at 12:06 PM
It’s a strategic move and it’ll be great for the group and for Newcastle. The value (of buying the club) is awareness.”
Is that code for we will have no money to spend?
10 Chris G // Jul 11, 2009 at 12:51 PM
newcastle29 – yeah, I was wondering about that quote too. What he seems to be saying is that it would be a good strategic move for his company because it would increase people’s awareness of the Profitable Group
11 Geordiedoonsooth // Jul 11, 2009 at 1:01 PM
This will be my last comment on here until we have new owners I am pig sick of all the sh*te bing written by the press. I off until something concrete is announce. If nothing happens soon on the takeover & appointing Shearer then as Fraser from Dads Army would say…”We’re Doomed, Doomed”
12 Chris G // Jul 11, 2009 at 1:15 PM
Geordiedoonsooth – chin up lad, where’s your fighting spirit? As Lance Corporal Jones would say:
“Permission to speak, sir,” said Jones. “I may be old but I can still give them the old cold steel, and they don’t like it up’em, you know, they do not like it.”
http://home.btconnect.com/howejam/dadsarmy/bios/characters/da_jones.htm
13 Fans Should Own The Club // Jul 11, 2009 at 1:31 PM
This is the group that said they’d go in the direction of fan ownership, so, obviously, I’m hoping they are serious and capable…
14 Chris G // Jul 11, 2009 at 2:14 PM
Fans – which group are you talking about?
Your link:
http://www.savenewcastle.com/index.html redirects to another site:
http://www.newcastlefansunited.com
which is no longer active and viable, so it encourages people to join and support the Newcastle United Supporters Club instead
15 Fans Should Own The Club // Jul 11, 2009 at 2:20 PM
Hi Chris G
sorry–yeah, referring to Profitable Group. I remember McMahon (if I’m not mistaken) saying Profitable would go in the direction of fan ownership.
should change my link. thanks.
16 Chris G // Jul 11, 2009 at 2:37 PM
Fans – sorry, my mistake – didn’t realise you were referring to the Profitable Group
17 Ben_BKK // Jul 11, 2009 at 2:42 PM
He never said anything about fans owning the club, it was about fans having a say in the running of the club, or basically that the owners would listen to the fans, and there’d be a fans’ representative on the board or something like that. Not actual fan ownership though, as far as I can recall…
18 chuck // Jul 11, 2009 at 3:29 PM
Would you buy a used car from this lot, been reading they are a bit dodgy, according to their history, in it for a fast buck.
Anyone reading a recent article on a European League and what it means for the future of the game as we know it, should be very concerned for this club.
Their are enormous changes about to take place and the recent purchase of PL teams by people from outside the UK are a harbinger of things to come.
For instance the recent sale of an old established franchise “The Montreal Canadiennes” for around £300m in order to reinvest in Liverpool
suggests enormous earning potential in the sport, especially as a member of a new Super European league.
Also the tremendous amounts recently spent by Man Citeh, inorder to climb up among the top rated teams and be positioned for a bid to enter any breakaway league, should be apparent.
There has been big bucks invested in the game recently and it has little to do with love of the game, more like, a potential fortune for the investors.
What has this to do with NUFC ?
Well there was a time the club was rated high enough to be listed in the top twenty teams, group of eighteen, etc. and were competing in european football, with league finishes of third fourth and fifth place.
Complimented by a state of the art stadium in place with room for expansion.
Well we are all aware how things turned brown following the firing of Sir Bobby and the aquisition by Ashley.
As things stand the club could be a bargain for any group or individual who would be in for the long haul.
Could be bought for a bargain basement price.
Ashley was lame enough to pay off the debt .
Sure its going to be difficult pushing the big earning players out the door, but not an unsurmountable problem.
Any new owner will have to invest and assure the team regains PL status (where the money is)
With a strong management team in place, the right investment in playing staff, who knows where it could lead.
We were up there with Sir Bobby, so we know whats possible, but any investor(s) has to be in for the long haul and be ready to invest in order to become profitable.
Lets hope our new owner(s) have the foresight to see the potential of this club and are not in it for a fast buck.
19 dannymatt // Jul 11, 2009 at 4:28 PM
Ggggnnnnnnn……………mnum mnum mnum orf orf zzzzzzzzzzzzzzzzz
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